Friday, October 7, 2011

Quick Facts about Form 7004


The official name of the form is "Form 7004 : Application for automatic Extension of time to file U.S.Income Tax Return".


Form 7004 is a Tax Extension for certain businesses, corporations, partnership, and certain trusts. The extension will be granted if you complete Form 7004 properly, make a proper estimate of the tax (if applicable), file the form by the due date of the return to which the Form 7004 applies, and pay any tax that is due.

Although Form 7004 gives you an extra 5-6 months to file your paperwork, it does not extend the time for payment of taxes owed.

Due Dates for Filing Form 7004

Form 7004-Automatic 5-Month Extension

Form #

Due Date to File Extension
Description
Form 1065
The 15th day of the fourth month after the close of tax year
U.S. Return of Partnership Income

Form 8804
The 15th day of the fourth or sixth* month  ( *Partnerships that keep books of accounts outside USA and Puerto Rico) after close of partnership tax year end

Annual Return for Partnership Withholding Tax (Section 1446)
Form 1041 (Estate)
For calendar year trust and estate, file by 15th April 2011 with schedule K-1. For fiscal year trusts and estates file by the 15th day of the fourth month after the close of tax year

U.S. Income Tax Return for Estates and Trusts
Form 1041 (trust)
For calendar year trust and estate, file by 15th April 2011 with schedule K-1. For fiscal year trusts and estates file by the 15th day of the fourth month after the close of tax year

U.S. Income Tax Return for Estates and Trusts

Form 7004-Automatic 6-Month Extension

Form #

Due Date to File Extension
Description
Form 706-GS (D)
On or after 1st Jan 2011 and before 15th April 2011 if the distribution was done in 2010
Annual Return for Partnership Withholding Tax (Section 1446)

Form 706-GS (T)
By April 15th 2011 if termination occurred in 2010
Generation-Skipping Transfer Tax Return for Terminations

Form 1041-N
The 15th day of the fourth month after the close of tax year
U.S. Income Tax Return for Electing Alaska Native Settlement Trusts

Form 1041-QFT
The 15th day of the fourth month after close of tax year. If filing for a short year then file by the 15th day of the fourth month following the close of short year

U.S. Income Tax Return for Qualified Funeral Trusts
Form 1042
By 15th March 2011
Annual Withholding Tax Return for U.S. Source Income of Foreign Persons

Form 1065-B
The 15th day of the fourth month after close of tax year
U.S. Return of Income for Electing Large Partnerships

Form 1066
By 15th April 2011. If final return is in 2010 then file by the 15th day of the fourth month following the RMIC ceased to exist
U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return

Form 1120
The 15th day of the third month following the close of tax year
U.S. Corporation Income Tax Return

Form 1120-C
The 15th day of the ninth month following the close of tax year provided requirements in section 6072(d) are met before filing. If not file by 15th day of the third month following the close of tax year

U.S. Income Tax Return for Cooperative Associations
Form 1120-F
If the foreign corporation has an office in USA file by the 15th day of the third month following the close of tax year. It the foreign corporation has no office in USA then file by the 15th of sixth month following the end close of tax year.

U.S. Income Tax Return of a Foreign Corporation
Form 1120-FSC
The 15th day of the third month following the close of the tax year or 15th day of the third month following the date of dissolution

U.S. Income Tax Return of a Foreign Sales Corporation
Form 1120-H
The 15th day of the third month following the close of tax year

U.S. Income Tax Return for Homeowners Associations
Form 1120-L
The 15th day of the third month after close of tax year. If filing for a short year then file by the 15th day of the third month following the close of short year. Or if the corporation is dissolved then file by the 15th day of the third month after date of dissolution.

U.S. Life Insurance Company Income Tax Return
Form 1120-ND
The 15th day of the third month following the close of tax year
Return for Nuclear Decommissioning Funds and Certain Related Persons

Form 1120-ND (Section 4951 taxes)
The 15th day of the third month following the close of tax year
Return of a Trustee or Self Sealer who owes tax under 4951
Form 1120-PC
The 15th day of the third month after close of tax year. If filing for a short year then file by the 15th day of the third month following the close of short year. Or if the corporation is dissolved then file by the 15th day of the third month after date of dissolution.

U.S. Property and Casualty Insurance Company Income Tax Return
Form 1120-POL
The 15th day of the third month following the close of tax year
U.S. Income Tax Return for Certain Political Organizations
Form 1120-REIT
The 15th day of the third month after close of tax year. If filing for a short year then file by the 15th day of the third month following the close of short year. Or if the corporation is dissolved then file by the 15th day of the third month after date of dissolution.

U.S. Income Tax Return for Real Estate Investment Trusts
Form 1120-RIC
The 15th day of the third month after close of tax year. If filing for a short year then file by the 15th day of the third month following the close of short year. Or if the corporation is dissolved then file by the 15th day of the third month after the dissolution.

U.S. Income Tax Return for Regulated Investment Companies
Form 1120S
The 15th day of the third month following the close of tax year or corporation which has dissolved the dissolving date

U.S. Income Tax Return for an S Corporation
Form 1120-SF
The 15th day of the third month following the close of tax year
U.S. Income Tax Return for Settlement Funds (Under Section 468B)

Form 3520-A
The 15th day of the third month following the close of tax year
Annual Information Return of Foreign Trust With a U.S. Owner

Form 8612
By 15th March 2011
Return of Excise Tax on Undistributed Income of Real Estate Investment Trusts

Form 8613
By 15th March 2011
Return of Excise Tax on Undistributed Income of Regulated Investment Companies

Form 8725
File by the 90th day following receipt of any portion of the greenmail

Excise Tax on Greenmail
Form 8831
File and pay the tax by April 15 of the year following the calendar year in which the residual interest is transferred to a disqualified organization. A pass-through entity must file and pay the tax due by the 15th day of the 4th month following the close of its tax year in which the disqualified person is a record holder

Excise Tax on Greenmail
Form 8876
By 90th day following the structured settlement
Excise Tax on Structured Settlement Factoring Transactions

Form 8924
File by later of 30th June 2010 or 90 days following taxable transfer

Excise Tax on Certain Transfers of Qualifying Geothermal or Mineral Interests

Form 8928
By the 15th day of the fourth month following the close of tax year
Return of Certain Excise Tax under Chapter 43 of the Internal Revenue Code


Form 7004 can be filed electronically to the IRS through an approved E-file provider. One such Form 7004 e-file provider is www.extensiontax.com.

You can e-file an extension request using www.ExtensionTax.com software with your own computer. The IRS acknowledge receipt of the extension request if you file through ExtensionTax.com.

Remember the inbuilt provisions in e-filing service enable data maintenance efficiently. Thus your data is safe and retrievable at any point of time.

ExtensionTax.com can help you access the forms you need to e-file your extension in time. It's Simple, Safe and Secured.

To know more Filing your Form 7004 electronically visit www.tax7004.com/www.ExtensionTax.com.

For any further support o filing Extension for Tax Forms call our Help Desk 1-866-245-3918 or simply email your queries to support@ExtensionTax.com.



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